“USDtb has the potential to scale to $100 billion because the firm can now effectively allocate capital in bearish environments by ‘creating an APY ‘floor’ around the T-Bill rate.’”

An interesting read on Ethena’s new USDtb stablecoin — which complements its USDe stablecoin — and how it is collateralized by BUIDL.

https://cointelegraph.com/news/ethena-labs-launches-stablecoin-backed-by-blackrocks-buidl-fund